Shares of Marfrig, Latin America’s second-biggest
meatpacker, climbed 1.8 percent to 10.61 reais at the close of
trading in Sao Paulo, the highest since Dec. 3. Trading volume
was 1.3 times the average of the past three months. The
benchmark Bovespa index fell 1.3 percent.

Sergio Rial, chief executive officer of Sao Paulo-based
Marfrig’s Seara unit, plans to reduce the price difference
between Seara-brand products and those of Brasil Foods SA’s
Sadia, the market leader, according to the report. The
percentage difference should be in the single digits, down from
15 percent currently, he told the newspaper in an interview.

The Seara brand is part of the Seara Foods unit, which
accounted for 69 percent of Marfrig’s revenue in the third
quarter of 2012, according to its website.

Rial, 52, who has been designated to take over as Marfrig’s
chief at the start of 2014, also plans to reduce the number of
items in Seara’s portfolio and increase outlets to 100,000 from
70,000 currently, the newspaper said.

A Marfrig press official who asked not to be identified in
accordance with company policy confirmed Rial’s comments when
contacted by Bloomberg News.

The company’s shares have gained 29 percent over the past
year, while the Bovespa fell 8.7 percent in the period.